Bianca Cuaresma
BusinessMirror
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Past articles by Bianca:
Treasury partially awards T-bills on mounting rates
THE Bureau of Treasury (BTr) has partially awarded Treasury bills (T-bills) on Monday, as rates continued to climb. Data from the BTr showed that the bureau raised P5 billion on Monday’s auction, after fully awarding 182-day bills, but did not award any for the 91-day and 364-day bills during the day. The amount tendered for → Read More
‘Peso could still weaken on global devts’
THE local currency could still weaken in the coming days as local and international developments could play to the strength of the dollar. In an analysis published over the weekend, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort cited two main catalysts to the movement of the peso against the dollar for the remainder → Read More
Chinabank Q1 profits up on sustained core-business growth
CHINA Banking Corp. announced that it has recorded net profits of P4.9 billion in the first quarter of 2022. The bank’s net income was 37-percent higher compared to the same period last year. The improved profitability, driven by sustained core business growth, yielded a higher return on equity of 16… → Read More
‘I wish this war would end’: Ukrainian refugees reach 2.8 million
PRZEMYSL, Poland—As Russia’s war in Ukraine becomes a grim new reality for millions of Ukrainians, the tens of thousands who make the increasingly treacherous journey toward safety each day in the European Union are left with no sense of when, or if, they’ll ever return home. More than 2.8 million… → Read More
Another bank warns public vs. money mules
AMID a rash of cybercrimes that have pushed lawmakers to rush passage of a measure giving regulators better weapons against those preying on victims amid the pandemic-induced migration to digital transactions, another major bank has sounded the alarm against a perceived rise in “money-muling schemes.” The use of money mules—bank… → Read More
Lacson, Sotto head for Davao del Norte on Day 4 of official campaign period
AFTER securing the support of their allies in their hometowns of Imus, Cavite and Quezon City recently, Partido Reporma standard-bearer Panfilo ‘Ping’ Lacson and running mate Senate President Vicente ‘Tito’ Sotto III headed south to solidify their base in Davao del Norte. Davao del Norte is considered a bailiwick of… → Read More
November FDI up 96% to $1.1B, 11-month total hits $9.2B
LONG-TERM investments made by foreign investors to the Philippines grew strongly in November last year as global and local economic activity improved during the period, bringing the cumulative January-November 2021 FDI net inflows to $9.2 billion, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday. Foreign direct investment (FDI) net… → Read More
BAP backs sustainable finance PHL roadmap
LOCAL banks have pledged support to the government’s recently launched sustainable finance roadmap. In a statement on Thursday, the Bankers Association of the Philippines (BAP) said they enjoin the vision of the government to finance more sustainable practices, especially as the Philippines remain one of the most vulnerable countries to… → Read More
Bids for T-bills hit nearly ₧47 billion on financial market cues
THE Bureau of Treasury fully awarded P15 billion in Treasury bills (T-bills) in its auction on Monday. Data from the Treasury showed that the auction was about three times oversubscribed, with total tenders hitting P46.5594 billion in total. The bills also fetched higher rates during the Monday auction. According to… → Read More
Adiwang wants Brooks, Rodtang fight after facing Hexigetu
TEAM Lakay’s “Thunder Kid” Lito Adiwang is being extra careful not to look past his next opponent, Hexigetu. But already, the 28-year-old from Baguio City has his sights set on some important fights for him down the road. Adiwang meets Hexigetu at One: Revolution, which broadcasts live from the Singapore… → Read More
BSP issues rules governing payment system operators
The governance policy for money handlers have been issued by monetary authorities over the weekend. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the issuance is part of their phased-in implementation of Republic Act 11127 or the National Payment Systems Act (NPSA) and is expected to support the… → Read More
The portable Kyln oven: making the pizzas of the future
The start of COVID-19 pandemic sent most traditional jobs and businesses into online and delivery modalities. As a result of this, people are now spending more time at home working, studying, or in some special cases envisioning and developing fantastic ideas. This was the case of Robert Ronquillo, CEO… → Read More
SM Hotels and Conventions Corp. (SMHCC) tops-off Lanson Place Mall of Asia
SMHCC topped-off yet another iconic property, Lanson Place Mall of Asia. Leading the ceremony were SM Prime Holdings, Inc. Executive Committee Chairman Hans T. Sy, SM Hotels and Conventions Corp President Elizabeth T. Sy, and SM Hotels and Conventions Corp Executive Vice President Peggy E. Angeles. Slated to open in… → Read More
BSP reminds banks to accept mutilated, doubtful currencies
THE Bangko Sentral ng Pilipinas (BSP) is urging local banks to accept mutilated or doubtful currencies. In a statement on Wednesday, the Central Bank reminded all authorized agent banks (AABs) that the practice of accepting mutilated currencies is implemented under BSP Circular 829. “Banks shall subsequently forward the mutilated or… → Read More
PNB launches digital app
THE Philippine National Bank announced last Wednesday the launch of its new banking platform, the PNB Digital App. The new app will allow PNB clients to register their accounts using their PNB account number, debit card, or credit card number. Upon successful registration, PNB account holders can login via Face… → Read More
In rising tide of financial inclusion, PHL seeks to lift all boats
TWO years ago, then central bank Governor Nestor A. Espenilla Jr. set out to put the country shoulder to shoulder with 14 nations in the world. It was a noble ambition. The impetus came along with the release of the World Bank’s comprehensive database on global financial inclusion. The 2017… → Read More
Banks close for Day of Valor; adjust Saturday hours of operation
LOCAL banks will be closing operations on Friday, April 9, in observance of the national day of Valor. Several banks announced on their social media pages their schedule and advised clients to call or use the online apps for their banking needs. “Our ATMs, Cash Accept Machines (CAMs), BPI Online… → Read More
Lean overseas demand cuts PHL PMI in March
THE Philippine manufacturing industry’s performance slightly dipped in March on slower overseas demand. International think tank IHS Markit reported on Monday that the country’s Philippines’s Purchasing Managers’ Index (PMI) in March hit 52.2, slightly declining from the 52.5 PMI in the previous month. A country’s PMI is aimed at gauging… → Read More
Bank branch expansion grew slower in 2020–Central Bank
THE local banks’ physical network expanded, albeit at a slower rate, in 2020 amid the global health crisis. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the total number of bank branches hit 12,985 in end-December 2020, up 0.9 percent from the 12,870 bank branches seen in the… → Read More
After 14 years, bank lending contracts
LOCAL bank lending entered negative territory at 2020’s close, registering the system’s first decline in 14 years. Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that the outstanding loans of universal and commercial banks declined by 0.7 percent in December 2020, further decelerating from the 0.5-percent… → Read More